$TJX
TJX COMPANIES INC /DE/

2018 Q2 Form 10-Q Financial Statement

#000119312518181451 Filed on June 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $8.689B $7.784B
YoY Change 11.62% 3.2%
Cost Of Revenue $6.178B $5.522B
YoY Change 11.88% 1.94%
Gross Profit $2.510B $2.254B
YoY Change 11.38% 3.86%
Gross Profit Margin 28.89% 28.96%
Selling, General & Admin $1.551B $1.412B
YoY Change 9.86% 5.73%
% of Gross Profit 61.77% 62.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $192.3M $172.5M
YoY Change 11.49% 9.85%
% of Gross Profit 7.66% 7.65%
Operating Expenses $1.551B $1.412B
YoY Change 9.86% 5.73%
Operating Profit $1.064B $949.0M
YoY Change 12.1% 3.28%
Interest Expense $30.00M -$21.00M
YoY Change -242.86% -161.76%
% of Operating Profit 2.82% -2.21%
Other Income/Expense, Net
YoY Change
Pretax Income $955.6M $832.5M
YoY Change 14.78% 0.91%
Income Tax $239.2M $296.2M
% Of Pretax Income 25.03% 35.58%
Net Earnings $716.4M $536.3M
YoY Change 33.58% 5.49%
Net Earnings / Revenue 8.24% 6.89%
Basic Earnings Per Share $0.57 $0.41
Diluted Earnings Per Share $0.56 $0.41
COMMON SHARES
Basic Shares Outstanding 1.253B shares 644.4M shares
Diluted Shares Outstanding 1.269B shares 654.8M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.117B $3.127B
YoY Change -0.32% 33.18%
Cash & Equivalents $2.681B $2.669B
Short-Term Investments $436.0M $457.0M
Other Short-Term Assets $567.0M $351.0M
YoY Change 61.54% 6.04%
Inventory $4.370B $3.736B
Prepaid Expenses
Receivables $368.3M $317.2M
Other Receivables $0.00 $17.00M
Total Short-Term Assets $8.422B $7.549B
YoY Change 11.58% 9.75%
LONG-TERM ASSETS
Property, Plant & Equipment $5.026B $4.601B
YoY Change 9.24% 8.78%
Goodwill $98.61M $195.6M
YoY Change -49.58% -0.47%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $457.0M $412.0M
YoY Change 10.91% 5.45%
Total Long-Term Assets $5.585B $5.215B
YoY Change 7.09% 8.04%
TOTAL ASSETS
Total Short-Term Assets $8.422B $7.549B
Total Long-Term Assets $5.585B $5.215B
Total Assets $14.01B $12.76B
YoY Change 9.74% 9.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.509B $2.175B
YoY Change 15.37% 1.78%
Accrued Expenses $2.221B $2.022B
YoY Change 9.84% 4.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.977B $4.605B
YoY Change 8.07% 7.18%
LONG-TERM LIABILITIES
Long-Term Debt $2.231B $2.228B
YoY Change 0.14% 37.94%
Other Long-Term Liabilities $1.276B $1.072B
YoY Change 19.07% 17.94%
Total Long-Term Liabilities $3.507B $3.300B
YoY Change 6.28% 30.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.977B $4.605B
Total Long-Term Liabilities $3.507B $3.300B
Total Liabilities $8.484B $7.905B
YoY Change 7.32% 15.9%
SHAREHOLDERS EQUITY
Retained Earnings $4.568B $4.606B
YoY Change -0.83% 4.43%
Common Stock $1.250B $643.3M
YoY Change 94.38% -2.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.262B $4.554B
YoY Change
Total Liabilities & Shareholders Equity $14.01B $12.76B
YoY Change 9.74% 9.05%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $716.4M $536.3M
YoY Change 33.58% 5.49%
Depreciation, Depletion And Amortization $192.3M $172.5M
YoY Change 11.49% 9.85%
Cash From Operating Activities $724.9M $448.4M
YoY Change 61.66% 0.72%
INVESTING ACTIVITIES
Capital Expenditures $264.9M $258.5M
YoY Change 2.49% -2.9%
Acquisitions
YoY Change
Other Investing Activities $44.50M $56.80M
YoY Change -21.65% 2344.06%
Cash From Investing Activities -$220.5M -$201.8M
YoY Change 9.26% -30.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $310.8M $298.0M
YoY Change 4.32% 7.45%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$526.0M -484.1M
YoY Change 8.66% 19.68%
NET CHANGE
Cash From Operating Activities $724.9M 448.4M
Cash From Investing Activities -$220.5M -201.8M
Cash From Financing Activities -$526.0M -484.1M
Net Change In Cash -$77.37M -237.5M
YoY Change -67.42% -4.39%
FREE CASH FLOW
Cash From Operating Activities $724.9M $448.4M
Capital Expenditures $264.9M $258.5M
Free Cash Flow $459.9M $189.9M
YoY Change 142.22% 6.1%

Facts In Submission

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-1059000
CY2017Q2 us-gaap Deferred Income Tax Expense Benefit
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8250000
CY2017Q2 us-gaap Depreciation
Depreciation
172600000
CY2017Q2 us-gaap Depreciation Depletion And Amortization
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172485000
CY2017Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-22917000
CY2017Q2 us-gaap Income Tax Expense Benefit
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296229000
CY2017Q2 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2017Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-201757000
CY2017Q2 us-gaap Proceeds From Issuance Of Common Stock
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52033000
CY2017Q2 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
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289924000
CY2017Q2 us-gaap Share Based Compensation
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24051000
CY2017Q2 us-gaap Proceeds From Payments For Other Financing Activities
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-759000
CY2017Q2 us-gaap Selling General And Administrative Expense
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1411603000
CY2017Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-484114000
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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-171000
CY2017Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-260354000
CY2017Q2 us-gaap Increase Decrease In Accrued Income Taxes Payable
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202811000
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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-20543000
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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2543000
CY2017Q2 us-gaap Other Operating Activities Cash Flow Statement
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CY2017Q2 us-gaap Stock Repurchased During Period Value
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350000000
CY2017Q2 tjx General Corporate Expenses
GeneralCorporateExpenses
106648000
CY2017Q2 tjx Cost Of Sales Including Buying And Occupancy Costs
CostOfSalesIncludingBuyingAndOccupancyCosts
5530072000
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8600000 shares
CY2018Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2018Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
CY2018Q2 dei Document Type
DocumentType
10-Q
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2018Q2 dei Entity Central Index Key
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0000109198
CY2018Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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724885000
CY2018Q2 us-gaap Revenue Recognition Sales Returns
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b><i>Sales Return Reserve</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Our products are generally sold with a right of return and we may provide other credits or incentives, which are accounted for as variable consideration when estimating the amount of revenue to recognize. We have elected to apply the portfolio practical expedient and will estimate the variable consideration using the expected value method when calculating the returns reserve, as the difference to applying it to the individual contract would not differ materially. Returns will continue to be estimated based on historical experience and will be required to be established and presented at the gross sales value with an asset established for the estimated value of the merchandise returned separate from the refund liability. Liabilities for return allowances are included in &#x201C;Accrued expenses and other current liabilities&#x201D; and the offsetting receivable is included in &#x201C;Prepaid expenses and other current assets&#x201D; on our consolidated balance sheets.</p> </div>
CY2018Q2 dei Trading Symbol
TradingSymbol
TJX
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
634436000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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626612000 shares
CY2018Q2 dei Amendment Flag
AmendmentFlag
false
CY2018Q2 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2018Q2 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
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0.00060 pure
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-1744000
CY2018Q2 us-gaap Deferred Income Tax Expense Benefit
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7335000
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.14
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CommonStockDividendsPerShareDeclared
0.3900
CY2018Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-02
CY2018Q2 dei Document Period End Date
DocumentPeriodEndDate
2018-05-05
CY2018Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7824000 shares
CY2018Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 Segment
CY2018Q2 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> <b><i>Deferred Gift Card Revenue</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> Proceeds from the sale of gift cards as well as the value of store cards issued to customers as a result of a return or exchange are deferred until the customers use the cards to acquire merchandise, as TJX does not fulfill its performance obligation until the gift card has been redeemed. While gift cards have an indefinite life, substantially all are redeemed in the first year of issuance. Based on historical experience, we estimate the amount of gift cards and store cards that will not be redeemed and, to the extent allowed by local law, these amounts are amortized into income over the redemption period.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial" cellspacing="0" cellpadding="0" width="68%" align="center" border="0"> <tr> <td width="88%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid"> <td valign="bottom" nowrap="nowrap"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 8pt; FONT-FAMILY: &quot;Times New Roman&quot;; WIDTH: 34.75pt; BORDER-BOTTOM: rgb(0,0,0) 1pt solid; MARGIN-TOP: 0pt; DISPLAY: inline"> In millions</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center">May&#xA0;5,<br /> 2018</td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance beginning of period</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">406.6</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Deferred revenue</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">330.5</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Effect of exchange rates changes on deferred revenue</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(3.2</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 3em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Revenue recognized</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">(371.8</td> <td valign="bottom" nowrap="nowrap">)&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; break-inside: avoid" bgcolor="#CCEEFF"> <td valign="top"> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; MARGIN-LEFT: 5em; MARGIN-TOP: 0pt; TEXT-INDENT: -1em"> Balance end of period</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">362.1</td> <td valign="bottom" nowrap="nowrap">&#xA0;</td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td valign="bottom"> <p style="MARGIN-BOTTOM: 0pt; BORDER-TOP: rgb(0,0,0) 1px solid; MARGIN-TOP: 0pt"> &#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> TJX recognized $372&#xA0;million in gift card revenue in the first quarter fiscal 2019. Gift cards are combined in one homogeneous pool and are not separately identifiable. As such, the revenue recognized consists of gift cards that were part of the deferred revenue balance at the beginning of the period as well as gift cards that were issued during the period.</p> </div>
CY2018Q2 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. TJX considers its accounting policies relating to inventory valuation, impairment of long-lived assets, goodwill and tradenames, retirement obligations, share-based compensation, casualty insurance, reserves for uncertain tax positions and loss contingencies to be the most significant accounting policies that involve management estimates and judgments. Actual amounts could differ from those estimates, and such differences could be material.</p> </div>
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.250 pure
CY2018Q2 dei Entity Registrant Name
EntityRegistrantName
TJX COMPANIES INC /DE/
CY2018Q2 us-gaap Fiscal Period
FiscalPeriod
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Fiscal Year</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> TJX&#x2019;s fiscal year ends on the Saturday nearest to the last day of January of each year. The current fiscal year ends February&#xA0;2, 2019 (&#x201C;fiscal 2019&#x201D;) and is a <font style="WHITE-SPACE: nowrap">52-week</font> fiscal year. Fiscal 2018 was a <font style="WHITE-SPACE: nowrap">53-week</font> fiscal year.</p> </div>
CY2018Q2 us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> <b><i>Net Sales</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: 400; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> Net sales consist primarily of merchandise sales, which are recorded net of a reserve for estimated returns, any discounts and sales taxes, related to the sales of merchandise both within our stores and online. Net sales also include an immaterial amount of other revenues that represent less than 1% of total revenues, primarily generated from TJX&#x2019;s&#xA0;<font style="WHITE-SPACE: nowrap">co-branded</font>&#xA0;loyalty rewards credit card program offered in the United States only. Certain customers may receive discounts, which are accounted for as consideration reducing the transaction price. Merchandise sales from our stores are recognized at the point of sale when TJX provides the merchandise to the customer. The performance obligation is fulfilled at this point when the customer has obtained control by paying for and leaving with the merchandise. Merchandise sales made online are recognized when the product has been shipped, which is when legal title has passed and when TJX is entitled to payment, and the customer has obtained the ability to direct the use of and obtain substantially all of the remaining benefits from the goods. Shipping and handling activities related to online sales occur after the customer obtains control of the goods. TJX&#x2019;s policy is to treat shipping costs as part of our fulfillment center costs within our operating expenditures. As a result, shipping fee revenues received will be recognized when control of the goods transfer to the customer and will continue to be recorded as net sales. Shipping and handling costs incurred by TJX are included in cost of sales, including buying and occupancy costs. TJX disaggregates revenue by operating segment, see Note G&#x2014;Segment Information.</p> </div>
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
8688720000
CY2018Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
264943000
CY2018Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
395399000
CY2018Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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6044000
CY2018Q2 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
-4148000
CY2018Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
34500000
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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77000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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NetIncomeLoss
716381000
CY2018Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
225187000
CY2018Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
43787000
CY2018Q2 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-1455000
CY2018Q2 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
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58712000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2018Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2018Q2 us-gaap Increase Decrease In Income Taxes Receivable
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CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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955558000
CY2018Q2 us-gaap Depreciation
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192690000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
24029000
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395399000
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CY2018Q2 us-gaap Selling General And Administrative Expense
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-206000
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CashAndCashEquivalentsPeriodIncreaseDecrease
-77372000
CY2018Q2 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
133663000
CY2018Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
2201000
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-1206000
CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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1328000
CY2018Q2 us-gaap Other Operating Activities Cash Flow Statement
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-26613000
CY2018Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
395400000
CY2018Q2 tjx Hedge Diesel Fuel Requirement Remainder Of Fiscal Year
HedgeDieselFuelRequirementRemainderOfFiscalYear
0.50 pure
CY2018Q2 tjx General Corporate Expenses
GeneralCorporateExpenses
104120000
CY2018Q2 tjx Hedge Diesel Fuel Requirement Second Year
HedgeDieselFuelRequirementSecondYear
0.45 pure
CY2018Q2 tjx Minimum Percentage Of Pension Liability Under Pension Protection Act
MinimumPercentageOfPensionLiabilityUnderPensionProtectionAct
0.80 pure
CY2018Q2 tjx Cost Of Sales Including Buying And Occupancy Costs
CostOfSalesIncludingBuyingAndOccupancyCosts
6178239000
CY2018Q2 tjx Number Of Leases Subject To Contingent Liability Maximum
NumberOfLeasesSubjectToContingentLiabilityMaximum
8 Leases

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d567998d10q.htm Edgar Link pending
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